MGM Resorts President Bill Hornbuckle has suggested his company may be looking to acquire a sports betting tech firm.
As well as discussing opportunities in the UAE and Thailand, Hornbuckle suggested MGM may also consider a live dealer supplier.
The company president discussed MGM’s strategy at the JP Morgan Gaming, Lodging, Restaurant & Leisure Management Access Forum.
Although Hornbuckle backed the BetMGM brand, which his company owns jointly with Entain, he did acknowledge some of his team’s recent issues.
Recently launched in the UK, BetMGM has suffered in the US market. Hornbuckle admits that BetMGM “isn’t where it should be,” despite recent improvements and standardization.
MGM Resorts President Bill Hornbuckle Hints At Acquisition
With the admission that competitors are offering stronger parlay products, BetMGM has recently invested heavily in improving its own offering.
But despite these measures, MGM is still falling behind in several areas. One of these is sports betting technology.
At present, BetMGM relies on Kambi’s betting technology. But Hornbuckle revealed that the company wishes to secure a proprietary betting technology supplier.
This is something the president hopes may happen in “the next couple of months.”
Furthermore, MGM could also look towards acquiring a live dealer supplier.
BetMGM Brand Ready To Be Successful
Regardless of these issues, MGM Resorts believes it and BetMGM are ready for a successful partnership. With Entain’s interim CEO Stella David putting in considerable work, Hornbuckle has praised her transparent approach.
Admitting that one must recognise a problem in order to solve it, Hornbuckle added that his team will be following developments at its partner company closely.
There was also room for praise of BetMGM’s UK launch. Hornbuckle described it as a testament of MGM and Entain’s opportunity to successfully tackle a mature, regulated market.
With a successful launch, Hornbuckle is optimistic about the opportunity to grow, and about BetMGM’s international future as a brand.
On the topic of international expansion, MGM Resorts recently abandoned plans for a Dubai casino. Hornbuckle was hopeful that gambling would be legalized in the UEA, but this has not come to fruition as of yet.
Despite the setback, MGM Resorts still plans to proceed with a hotel in Dubai, which will be prepared to pivot towards casino gambling should the law change in the emirate.
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